![]() ![]() What was your demand? What was your actual occupancy? Using historical data, you can make a pretty good prediction, or forecast, for what the demand will be for the future.įor example, you may calculate the forecast for each day for the next few months based on the same days for the past five years. Take a look at your reservations from the last several years. The best way to develop your forecast is based on past experience. To develop a demand-control chart, we develop the forecast, determine trigger points, and then determine the minimum rates to quote. lumps all demand together even though different market segments might have different demand.can be applied to other parts of the business (ballrooms, restaurants, etc.).easy to use and implement (a simple spreadsheet will do).When the forecast is below a certain level, you will open up (or lower) room rates. Similar to most approaches to setting rates, this one has advantages and disadvantages. When your forecast, or estimated demand, is above a certain level, you will close (or raise) room rates. The major use of a demand-control chart is to help determine when to change your rate based on demand. ![]()
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